Bourse rises to 2-month high on foreign buying

Reuters: Stocks edged up 0.2% to end at a two-month high on Thursday led banks and diversified shares with renewed positive sentiment after foreign buying for a 24th straight session.

The Colombo Stock Exchange’s main index gained 10.75 points to 5,038.15, its highest level since 21 June.

The Bourse has seen Rs. 4.87 billion in foreign inflows during the last 24 sessions.

On Thursday, Foreign investors bought a net Rs. 134.6 million ($ 1.02 million) worth of shares, extending the net foreign inflow this year to 28.4 billion rupees.

Dealers said foreigners bought market heavyweight John Keells Holdings, which accounted for 34% of the day’s turnover of 635 million rupees. The daily average turnover this year is 861 million rupees.

The market has fallen 17% this year.

The rupee ended flat at 132.28/35 against the dollar in dull trade.